Return of cash currency to banks behind record rise in deposits in December

December 2013 was the last month when the lats in Latvia was the only legal tender; as expected, when the moment of euro changeover was imminent, the amount of cash lats in circulation dropped rapidly, the accruals of both households and businesses returning to banks and an increasing amount of transactions taking place by way of noncash currency, Bank of Latvia economist Vilnis Purvins writes in the makroekonomika.lv economic news portal, cites LETA/Nozare.lv.... Read more...